After opening its fifth outlet in Sagaing Region, Shwebo Rice Trading Center is planning to change its corporate status to public to be on par with other trading centers in Myanmar. It is planned to go public by next year and ensure all our rice mills are in line with regulations by the rice trading season next year. This will help elevate the center’s presence in the international market and make it easier to conduct export activities.

Public companies are required to obtain permission from both the Directorate of Investment and Company Administration and the Securities Exchange Commission of Myanmar before they are officially allowed to sell their shares over the counter. Unlike a private company, which has a shareholder limitation of not more than 50, there is no shareholder limit for public companies.

Currently, 70pc of rice from Shwebo, Sagaing, is exported to China via the border however there are strict quotas in place to limit illegal trade. To export via the maritime route, Shwebo is trying to conform to the rice import regulations set by China.

Source: Myanmar Times 

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